BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in shares of Amphenol Co. (NYSE:APH) by 22.9% during the first quarter, HoldingsChannel reports. The firm owned 55,886 shares of the electronics maker’s stock after selling 16,606 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Amphenol were worth $5,278,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of APH. FMR LLC boosted its holdings in Amphenol by 6.4% in the fourth quarter. FMR LLC now owns 41,896,298 shares of the electronics maker’s stock worth $3,394,437,000 after acquiring an additional 2,534,967 shares in the last quarter. Vanguard Group Inc boosted its holdings in Amphenol by 0.3% in the third quarter. Vanguard Group Inc now owns 31,413,615 shares of the electronics maker’s stock worth $2,953,509,000 after acquiring an additional 95,433 shares in the last quarter. BlackRock Inc. boosted its holdings in Amphenol by 4.7% in the fourth quarter. BlackRock Inc. now owns 22,227,823 shares of the electronics maker’s stock worth $1,800,898,000 after acquiring an additional 989,348 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Amphenol by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 11,906,859 shares of the electronics maker’s stock worth $964,693,000 after acquiring an additional 79,912 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Amphenol by 1.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,406,813 shares of the electronics maker’s stock worth $681,119,000 after acquiring an additional 92,916 shares in the last quarter. 94.39% of the stock is currently owned by institutional investors.
Shares of NYSE APH opened at $89.51 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.50 and a quick ratio of 1.76. The stock has a market capitalization of $26.74 billion, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 2.15 and a beta of 0.91. Amphenol Co. has a fifty-two week low of $74.95 and a fifty-two week high of $105.51.
Amphenol (NYSE:APH) last released its earnings results on Wednesday, April 24th. The electronics maker reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.01. Amphenol had a return on equity of 29.75% and a net margin of 14.55%. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $0.83 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate that Amphenol Co. will post 3.86 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 19th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Tuesday, June 18th. Amphenol’s dividend payout ratio (DPR) is 24.40%.
In related news, CFO Craig A. Lampo sold 36,905 shares of Amphenol stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $100.10, for a total transaction of $3,694,190.50. Following the completion of the sale, the chief financial officer now owns 49,405 shares of the company’s stock, valued at $4,945,440.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard Adam Norwitt sold 200,000 shares of Amphenol stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $99.58, for a total value of $19,916,000.00. Following the sale, the chief executive officer now directly owns 200,000 shares of the company’s stock, valued at approximately $19,916,000. The disclosure for this sale can be found here. Insiders have sold 886,505 shares of company stock valued at $88,065,603 in the last ninety days. Corporate insiders own 2.60% of the company’s stock.
APH has been the subject of several recent analyst reports. Zacks Investment Research raised Amphenol from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a report on Wednesday, January 30th. Bank of America reissued a “buy” rating and issued a $107.00 price target (up previously from $103.00) on shares of Amphenol in a report on Thursday, February 7th. Morgan Stanley raised their price target on Amphenol from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Wells Fargo & Co set a $105.00 price target on Amphenol and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, SunTrust Banks raised Amphenol from a “hold” rating to a “buy” rating and raised their price target for the stock from $89.00 to $112.00 in a report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $105.29.
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Amphenol Company Profile
Amphenol Corporation, together with its subsidiaries, primarily designs, manufactures, and markets electrical, electronic, and fiber optic connectors worldwide. It operates through two segments, Interconnect Products and Assemblies, and Cable Products and Solutions. The Interconnect Products and Assemblies segment offers connector and connector systems, including fiber optic, harsh environment, high-speed, and radio frequency interconnect products, as well as antennas; power interconnect products, busbars, and distribution systems; and other connectors.
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